Hi
My husband is looking to transfer half of his second property to me and take out a new BTL mortgage . The property is worth 95K outstanding Mortgage is 90K. We are financing 20K to reduce the mortgage before hand. If this is done before taking out the new btl mortgage then I was thinking that the consideration for my half will only be 35K ( half of 70K mortgage) meaning it is under the 40K threshold for the 3% stamp duty tax? Is this correct?? Or will the 20 K paid off also be classed as consideration?
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